AppFolio, Inc. (NASDAQ:APPF) Sees Significant Decrease in Short Interest (2024)

Posted by Defense World Staff on Jun 4th, 2024

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 1,130,000 shares, a decrease of 6.6% from the April 30th total of 1,210,000 shares. Based on an average daily volume of 304,300 shares, the short-interest ratio is currently 3.7 days.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the transaction, the director now owns 51,070 shares of the company’s stock, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,031 shares of company stock valued at $7,883,943. Corporate insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in AppFolio in the 4th quarter valued at about $38,458,000. Zeno Equity Partners LLP bought a new stake in shares of AppFolio during the 4th quarter valued at approximately $33,434,000. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 2,359.8% during the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AppFolio by 344.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of AppFolio during the 4th quarter valued at approximately $18,636,000. 62.34% of the stock is owned by institutional investors.

AppFolio Stock Performance

NASDAQ APPF opened at $227.37 on Tuesday. AppFolio has a 52-week low of $152.81 and a 52-week high of $256.73. The stock has a market cap of $8.23 billion, a PE ratio of 109.84 and a beta of 0.80. The firm has a 50-day moving average of $233.55 and a 200-day moving average of $214.20.

AppFolio (NASDAQ:APPF – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. As a group, analysts predict that AppFolio will post 2.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on APPF shares. Keefe, Bruyette & Woods increased their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Stephens reiterated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, April 26th. Finally, KeyCorp raised their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.00.

Read Our Latest Stock Analysis on APPF

About AppFolio

(Get Free Report)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.

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